Cryptocurrency: To The Moon

With cryptocurrencies like Bitcoin and Ethereum recently taking the world by storm, Youth4Youth took this opportunity to teach the students at ESF South Island School about this new technology and how it works. We taught the students about how cryptocurrency is different to tangible currency as banks or third parties are not needed to regulate it, which is why a process called blockchain is used. Students learnt that blockchain is simply a public record of payments that is constantly checked to make sure everything is real. We also explained the three different types of cryptocurrency: value tokens, utility tokens and security tokens.

Youth4Youth also taught students about The QuadrigaCX scandal and the cryptocurrency market. We also highlighted the recent development of non-fungible tokens (NFTs) as cryptographic assets on a blockchain with unique identification codes and metadata that distinguishes them from each other. However, the best part of the session was definitely Bitcoin Flip (the world's first free Bitcoin trading simulator), CryptoSpaniards Simulator and Bitcoin Hero (trading Bitcoin by buying and selling shares). It was great to see the students immerse themselves in this simulator to give them a better understanding of how cryptocurrency works. Youth4Youth is very happy to have held this session at ESF South Island School because we feel that the students have gained crucial knowledge on the latest developments in technology!

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